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For too long the jewelry industry has been putting all its eggs in one basket – diamonds – ignoring the potential in pearls.
Pinterest trends are unlike anything else out there. This is what some of the world’s most style-inspired, parenting-passionate, well-traveled, food-smart people are dreaming about for the year ahead.
What can brands and the media firms they hire do to ensure that their attempts to use social media do not go bust – and that they do not have to bring suit to protect their interests and possibly collect back paid funds?
Luxury fashion’s biggest internal challenge is its outdated organizational structure.
Strengthening offline activities, engaging with millennial consumers and harnessing the power of homegrown KOLs is key for luxury brands operating in China.
Counterfeits are the biggest pain point for any luxury sector. Per the Global Brand Counterfeiting Report 2018, counterfeits cost the luxury industry $30.3 billion in lost online sales in 2017.
Do luxury brands really know the Chinese customer, or do they simply view them as walking dollar signs? The numbers are eye-popping, with Chinese accounting for 32 percent of the $319.6 billion spent on luxury goods worldwide and only 10 percent of those sales occurring in China.
Marketers should understand that an entire generation of enlightened consumers operates with a philosophy that every brand they use, wear and consume reflects on their own personal brand.
Black Friday shoppers set a new record this year, spending $6.22 billion online alone. With Christmas only weeks away, retailers are riding a major windfall.
It is increasingly difficult to get consumers’ attention, and even harder to hold it. Nowhere is this truer than in the luxury sector.
America has gone through three different ages of survival stories, and each age is defined by what we were trying to survive against at that time.
In the past, lack of transparency in a company’s supply chain was seen as a competitive advantage.
This is now the second time that Balenciaga has been sued in New York’s Southern District court for misappropriation of the design of an inexpensive product for use as a luxury product.
What is behind all the empty storefronts in New York?
It is not hard to see why some younger consumers are avoiding Black Friday.
Continuing to craft fine luxury products while simultaneously answering to the incursion of luxury-for-rent, luxury online, techno-luxury, or a No Brand movement that seeks to wipe traditional companies off the map, is no easy feat.
Tectonic shifts in luxury call for leaders to become “undisruptable.” Undisruptable leaders will need to become the ultimate end-user ethnographers – mapping to the very specific experiential preferences of their customers.
The beauty industry, once dominated by offline channels, is undergoing a period of disruption regarding the manner in which consumers discover new trends, compare brands and buy products.
China specializes in big numbers, such as the “32 percent of luxury consumption globally is from China” stat that gets rolled out in every related article or event.
“The British are coming!” That was the shout heard round New York recently as a delegation of 18 British luxury brands converged in the United States’ luxury capital to talk luxury, British-style.
What we are witnessing is that the once-dominant Google is quickly losing ground to Facebook when it comes to capturing mid-market budget.